Ashaka to fast-track Gombe plant expansion, Nigeria

Ashaka to fast-track Gombe plant expansion, Nigeria
18 July 2014

The board of directors of Nigerian producer Ashaka Cement plc, with the support of parent company Lafarge, has agreed to fast-track the expansion of its US$617m cement plant in Gombe state.

Guillaume Roux, CEO of Lafarge Nigeria and Benin Republic, had said that the investment of US$617m in Nigeria was a demonstration of its commitment to the economic growth of the country.

Chairman of the board of Ashaka Cement, Alhaji Umaru Kwairanga, confirmed the developments, telling local press that “contracts have been signed with the main equipment and engineering suppliers." He added that credit facility lines of US$308m had been secured and signed in addition to internally generated cash flows to support the expansion project.

Published under Cement News